Will Uber loan be released to passengers?

Uber’s new credit line is exclusive to Uber Pro drivers and delivery people and will not be made available to the company’s passengers.

Last week, Uber launched a personal credit service exclusively for Uber Pro drivers and couriers, active and without legal holds, who are in the Diamond and Platinum categories. Thus, the company intends to test and evaluate whether the service can be extended to other drivers and delivery men in the future. Therefore, the new credit line will not be made available to Uber passengers.

How Uber’s Loan Will Work

In this way, these workers can now apply for loans with amounts between R$1,000 and R$10,000, with interest rates starting at 2.99% per month. According to a survey by Procon-SP, this is the lowest interest rate for the month of September compared to large banks.

Therefore, the deposit of the contracted amount will be made in the same digital account intended for the earnings of each trip carried out on the platform. In addition, to have access to credit, it is necessary to have made at least 25 trips or deliveries through the Uber app.

According to Uber, discounts on the loan installments will be made with each transfer of drivers’ earnings, starting 28 days before the due date of each installment and the grace period is up to 80 days. In addition, the loan repayment period is up to 18 months.

Thus, the financial services of Uber Conta are made available in partnership with the digital bank Digio. “In the last year, we have already managed to better understand the profile of drivers who use Uber Conta, which allows us to offer loans to an audience that often has difficulty in accessing this option in many institutions”, says Marcelo Scarpa, Executive Director of Digi.

In summary, the digital account currently offers the following services:

  • Transfers via TED and PIX;
  • Payment of tickets;
  • Withdrawals by QR Code on the Banco 24horas network;
  • Access to online shopping with up to 60% off in several stores.

Image: Sundry Photography/shutterstock.com

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